MetaBank Makes Strategic Investment in Advantage Payment Services

Rhea-AI Summary

Advantage Payment Services (APS) has secured a strategic investment from MetaBank, enhancing its dispute management solutions for the fintech sector. APS, a leader in financial data management, aims to integrate advanced AI and Machine Learning into its Dispute Advantage platform, improving compliance and operational efficiency. This partnership is expected to elevate industry standards in dispute case management. With over two decades of experience, APS is set to leverage MetaBank's expertise to streamline technology development for evolving regulatory demands.

Positive

• Strategic investment from MetaBank to enhance APS's technology solutions.
• Integration of AI and Machine Learning to improve productivity and risk management.
• APS retains leadership position in enterprise dispute management for fintech.

Negative

• None.

APS enters into strategic partnership to expand technology solutions

FARGO, N.D.--(BUSINESS WIRE)-- Advantage Payment Services (APS), the leader in financial data management for top FinTech payments organizations, has received a strategic investment from MetaBank®, N.A. This leading issuer is investing in the development of the next-generation of APS solutions that will up-level the industry standard for regulatory compliant dispute case management.

APS is the leader in enterprise dispute management for the largest payment processing issuing banks and fintechs. Their consultative approach assists clients in navigating a complex technical and regulatory landscape, while its agile development method supports greater speed to market.

The APS Dispute Advantage platform is a scalable, configurable, regulatory compliant workflow solution. The next generation of automation leverages Artificial Intelligence and Machine Learning to further increase productivity and empower real-time risk management decisioning.

“MetaBank is a leader in payments and fintech because it has continually embraced the changing competitive and regulatory landscape,” said Dave Campbell, President at APS. “We’ve spent two decades developing and perfecting the technology that gives banks the critical visibility and control over any program they authorize. We’re excited to further our relationship with this industry leader to deliver the best possible solutions for the industry at large.”

MetaBank, a subsidiary of Meta Financial Group, Inc.®, has a mission of financial inclusion for all® and strives to increase financial availability, choice and opportunity. Meta has years of experience serving niche markets and operates in four primary business lines including Payments, Tax Services, Commercial Finance and Consumer Lending.

“APS integrates key identity verification, compliance and reporting capabilities seamlessly into our existing business processes,” said MetaBank President, Anthony Sharett. “Creating this collaborative environment allows us to further their ability to very quickly develop and deploy technology that addresses the evolving compliance and reporting demands in payments and fintech.”

APS is privately held by members of the Campbell family of Fargo, North Dakota. The Campbells have a history of building and growing financial services support companies. Their first venture, Advantage Credit Bureau, was formed in 1992 and remains a thriving business today.

Beyond dispute services, APS also offers solutions for the detection, prevention and management of fraud; secure, cloud-based document management; identification and address verification services; and analytic reporting tools.

About Advantage Payment Services

Advantage Payment Services is the leader in financial data management for banking, payment and fintech brands. APS built an agile, high trust, cloud-based platform that integrates identity verification, dispute, fraud, and document management seamlessly into existing business processes, so clients can maintain these critical functions as they grow. Learn more about our Advantage Solutions: http://www.advantagepaymentservices.com/.

About MetaBank®

MetaBank®, N.A., a national bank, is a subsidiary of Meta Financial Group, Inc.® (Nasdaq: CASH), a South Dakota-based financial holding company. MetaBank’s mission is financial inclusion for all®. MetaBank strives to remove barriers to financial access and promote economic mobility by working with third parties to provide responsible, secure, high quality financial products that contribute to the social and economic benefit of communities at the core of the real economy. MetaBank works to increase financial availability, choice, and opportunity for all. Additional information can be found by visiting www.metabank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220331005265/en/

MEDIA CONTACT:

Lindsey Abshire

337-772-8357

lindsey@fletchergroupllc.com

MetaBank Media Relations Contact

mediarelations@metabank.com

Source: Advantage Payment Services

FAQ

What is the significance of MetaBank's investment in APS?

MetaBank's investment aims to enhance APS's dispute management solutions, integrating advanced technology for better compliance and efficiency.

How will the partnership between APS and MetaBank affect fintech dispute management?

The partnership will elevate industry standards by leveraging AI and Machine Learning in APS's Dispute Advantage platform.

What is the primary focus of Advantage Payment Services?

APS focuses on financial data management, particularly in enterprise dispute management for fintech and payment processing.

What technology advancements are expected from APS after the investment?

APS plans to integrate AI and Machine Learning into its solutions to enhance real-time risk management and productivity.

What does MetaBank aim to achieve through its partnership with APS?

MetaBank aims to develop innovative technology solutions that address evolving compliance and reporting needs in the payments industry.